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UOB
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yumsang
Member |
22-Sep-2021 13:03
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have to understand the reason behind mah
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Adrianinsing
Elite |
22-Sep-2021 11:29
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A buy at 24.98 - not now | ||
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PhillipTan
Supreme |
21-Sep-2021 14:13
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UOB injects fresh capital worth 2t dong into Vietnam unitUnited Overseas Bank (UOB) has injected two trillion dong (S$118.9 million) worth of fresh capital into its Vietnam unit, raising its charter capital to five trillion dong from three trillion dong, the bank said in a press statement on Monday.The capital injection, approved by the State Bank of Vietnam, is part of UOB' s " long-term commitment to contributing to Vietnam' s economic growth and to deepening its support of more customers" . Wee Ee Cheong, deputy chairman and chief executive officer of UOB, expects the injection will deepen UOB' s presence in Vietnam and contribute to the country' s ongoing development, while noting that UOB Vietnam has grown to achieve a 53 per cent compounded annual growth rate in assets since it became a wholly-owned subsidiary bank in 2018. " The increased capital base will enable us to support existing and new customers in Vietnam through our progressive solutions and the connectivity we offer across UOB Group' s regional network," he added. Shares of UOB were up S$0.08 or 0.3 per cent at S$25.59 as at the midday break on Tuesday. |
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investshare
Supreme |
17-Sep-2021 15:43
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I have all DBS, uob, ocbc and HLF.. my strategy is view them as one category Singapore banks, and spread across all 4 counters.
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RexxarLoh
Member |
17-Sep-2021 15:11
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Hi all, for DBS, OCBC and UOB, what are the pros and cons for each bank? | ||
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eagleeyes1989
Master |
17-Sep-2021 08:38
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Boosting Equity Financing for High-Growth Enterprises Singapore, 17 September 2021 &ndash Singapore announced a package of initiatives to support high-growth enterprises to raise capital in Singapore&rsquo s public equity market and broaden Singapore&rsquo s proposition as a financing hub. 2. Speaking at the Singapore Exchange&rsquo s Securities Market Open event today, Minister for Trade and Industry Gan Kim Yong will announce the following initiatives: a. Establishment of a co-investment fund named Anchor Fund @ 65 that will help promising high-growth enterprises raise capital through public listings in Singapore b. Establishment of the Growth IPO Fund that will help late-stage private enterprises at about two or more funding rounds away from a public listing to grow and prepare for an eventual public listing in Singapore c. Enhancements to the Grant for Equity Market Singapore (GEMS) scheme to support enterprises seeking to list in Singapore, and to help develop Singapore&rsquo s equity research ecosystem and d. Singapore Exchange&rsquo s Strategic Partnership Model, which will develop bespoke solutions ranging from private market fundraising to liquidity building and global investor outreach for high-growth companies. | ||
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PhillipTan
Supreme |
17-Sep-2021 03:01
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RHB stays ' overweight' on Singapore banks with UOB and OCBC as preferred picksThe Singapore research team at RHB Group Research remains positive on Singapore banks, despite a " noticeable" pullback in share prices in August." Still, sector fundamentals are healthy and we remain positive on Singapore banks over the next 12 months," the team says in a Sept 14 research note. RHB has kept its " overweight" rating for the sector unchanged. Following share price gains of some 25% between Jan 1 to Aug 10, Singapore banks saw the gains trimmed to 18% on a year-to-date basis on Sept 13. The team attributes this to a number of factors, including an inflow of portfolio funds into Asean countries, rising vaccination rates boosting certainty of economic recovery, a rotation of foreign funds out of China in view of the regulatory uncertainty, and the gradual inclusion of Sea into the MSCI Singapore Index from end-May. Sea' s phased inclusion is expected to continue impacting bank stocks as portfolio managers rebalance their books. This comes following a hike in the index inclusion factor (IIF) which dictates the weighting of stock constituents in the index in August. With further hikes in the IIF expected in November and Feb 2022, they expect the short-term overhang from the tactical reallocation to last until 1Q2022. Nonetheless, the team remains upbeat on the sector. The sanguine outlook is underpinned by loan growth momentum which is expected to be sustained by economic recovery in Singapore and the reopening of regional countries as vaccination rates rise. " This should help lift net interest income even as net interest margins are expected to remain depressed, perhaps, until late 2022," the team explains. In addition, the team highlights that core fee income has recovered to pre-Covid-19 levels. They also anticipate banks could potentially write back pre-emptive Covid-19 provisions in 2022. " Our FY2022 sector earnings growth of 9% does not take into account potential writeback of provisions," they remark. The resumption of cash dividend payout in August also signals the banks' confidence in asset quality and capital strength, the team says. RHB has " buy" ratings for all three Singapore banks, with United Overseas Bank (UOB) as their top pick, followed by Oversea-Chinese Banking Corporation (OCBC). They note that UOB and OCBC are trading below one time FY2022 P/BV, lower than their historical means of 1.08 times and 1.1 times respectively. RHB has target prices of $30.20 and $14.30 for UOB and OCBC. Meanwhile, DBS Bank is trading at 1.23 times P/BV, which is almost one standard deviation above the historical mean. |
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PhillipTan
Supreme |
17-Sep-2021 03:00
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UOB launches green financing solution for EVs in SingaporeUOB has launched U-Drive, an integrated green financing solution for electric vehicles (EVs) in Singapore.The drive is part of UOB' s suite of sustainable financing solutions under the UOB Smart City Sustainable Finance framework. The solution is designed to meet the financial needs of all EV ecosystem players - from automotive brand owners, car dealers, charging point operators to end-users. It provides a wide range of green banking facilities that include trade financing and dealer stock financing. For instance, automotive brand owners that launch business models such as battery-as-a-service, or car dealers planning to expand their EV inventory, can utilise the bank' s green facilities for their working capital needs. The bank will be pioneering the solution with Hong Seh Evolution, who is the authorised distributor of commercial EVs from Dongfeng Sokon Automobile and the dealer of BYD T3 electric vans in Singapore. " Through U-Drive, we want to help promote the development of the EV sector and simplify the transition to green vehicles, so as to contribute to a cleaner and greener environment," says Karunia Tjuradi, head of sector solutions group at UOB. On the collaboration with Hong Seh Evolution, Eric Tham, UOB' s head of group commercial banking says the ongoing collaboration is " testament" to the latter' s long-standing trust in the bank. According to Tham, UOB has been supporting the distributor for four decades. " We believe that our green facilities under the U-Drive solution will enable Hong Seh Evolution, as well as our clients in the EV sector, to meet their working capital needs more effectively for greater speed to market," says Tham. " We have been banking with UOB since 1970. The bank has been supportive of our foray into EVs, in particular our venture into commercial EVs, which we expect will continue to grow in demand. We are expanding as a one-stop electric vehicle hub spanning sales, leasing and even charging infrastructure and we look forward to continued support from UOB under the U-Drive solution," says Edward Tan, director of Hong Seh Evolution. |
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PhillipTan
Supreme |
16-Sep-2021 00:46
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UOB prices Sonia benchmark covered bonds due 2026 in £ 850m issuanceUOB has priced £ 850 million (S$1.58 billion) of floating-rate covered bonds due 2026.The final order book was in excess of £ 975 million, from an investor base comprising bank treasuries, central banks or official institutions and real money fund managers, the bank said on Wednesday. The new issuance will use the Compounded Daily Sterling Overnight Interest Rate Average (Sonia) as its interest basis, making UOB the first issuer in Singapore to price a Sonia benchmark covered bond offering, it said in a press statement. The offering was priced above par at 103.52 per cent, at a coupon rate of compounded daily Sonia plus 100 basis points, with a reoffer yield of 29 basis points above Sonia. The covered bonds will be issued as the 10th series under UOB' s US$8 billion global covered bond programme. UOB expects them to be rated Aaa by Moody' s and AAA by S& P Global Ratings. The bank added that the issuance is the " largest-ever" Sterling covered bond offering from an Asian issuer. UOB has issued 10 benchmark covered bonds, including its inaugural transaction in 2016, across global markets. BNP Paribas, Credit Suisse International and UOB were the joint lead managers of this transaction. UOB expects to issue the covered bonds on Sept 21, 2021. UOB group chief financial officer Lee Wai Fai said: " Since we launched the country' s first Sterling-denominated covered bond in 2018, there is now greater clarity and established market conventions in the Sonia market." The new issuance follows UOB' s consent solicitation for the conversion of the interest basis for its £ 350 million floating rate covered bonds due 2023 from the Sterling Libor to Compounded Daily Sonia in July 2021. |
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ETLee8
Master |
10-Sep-2021 00:10
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The management is super kiasu and cautious. But is good that is why they hv very low NPL. Also it gives good dividend as Mr Wee owned the most shares. Should go back to $27 later part of the year.
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Adrianinsing
Elite |
09-Sep-2021 18:59
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Agree - I hold DBS but I agree with u
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Starship
Supreme |
09-Sep-2021 18:48
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Ridiculous that this counter is still languishing at below it' s pre-pandemic price !!!!  And today, its nearly $5 cheaper than DBS !!! 
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PhillipTan
Supreme |
07-Sep-2021 03:39
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UOB units secure licences to be appointed cross-currency dealers for yuan-rupiahUOB' s wholly-owned subsidiaries, UOB China and UOB Indonesia, have secured licences to be appointed cross-currency dealers (ACCDs) for the yuan and rupiah, UOB on Monday said in a statement.With the ACCD licences, UOB China and UOB Indonesia can open offshore accounts in rupiah and yuan, respectively, and offer cross-currency exchange, financing, swaps and forwards in the currency pair to its corporate and institutional clients in the two markets. UOB clients in Indonesia and China will also have direct access to onshore yuan-rupiah foreign exchange (FX) rates and liquidity to hedge their trade transactions and investments, while UOB China can also offer two-way quotes on the yuan against the rupiah in the interbank FX markets. The licences form part of the local currency settlement framework between the People' s Bank of China and Bank Indonesia to facilitate greater bilateral trade and investment flows between the two countries. The bank said it is the first Singapore bank to be an ACCD for the yuan and rupiah in both China and Indonesia, and also the only Singapore-headquartered bank approved by the PBC to be a direct market maker for the yuan and rupiah. It added that it will continue to grow its Asean Currency One-Stop Service in China to help clients benefit from the increased financial connectivity between China and markets in the Association of Southeast Asian Nations (Asean). The service provides a direct exchange of the yuan with financing and hedging solutions in various Asean currencies including the Singapore dollar, baht, ringgit and rupiah. UOB noted that bilateral trade between China and Indonesia reached US$78.4 billion in 2020. China' s imports from Indonesia grew 9.5 per cent, and its foreign direct investment to Indonesia surged 86.5 per cent to almost US$2 billion. Shares in UOB closed 26 cents higher or 1.02% up at $25.82 on Sept 6. |
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investshare
Supreme |
02-Sep-2021 09:57
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Why keep dropping? | ||
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investshare
Supreme |
02-Sep-2021 08:42
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Realistic or not?
Choong and Lim are maintaining " neutral" on the banking sector here, with " add" calls on all three banks. The analysts set target prices of $32.70 for DBS Group, $13.75 for Oversea-Chinese Banking Corporation (OCBC) and $29.00 for United Overseas Bank (UOB). |
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PhillipTan
Supreme |
02-Sep-2021 03:04
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Singapore banks ' neutral' as impact of lifted dividend cap endsLast month' s removal of the dividend cap on Singapore' s three banks has played out its impact, say CGS-CIMB Research analysts Andrea Choong and Lim Siew Khee.Choong and Lim are maintaining " neutral" on the banking sector here, with " add" calls on all three banks. The analysts set target prices of $32.70 for DBS Group, $13.75 for Oversea-Chinese Banking Corporation (OCBC) and $29.00 for United Overseas Bank (UOB). " DBS Group' s earnings were supported by low credit costs in 1HFY2021, resulting in total impairment provisions of just $89 million (FY2020: $3 billion). Its key revenue drivers of wealth and treasury income remained strong in 2QFY2021, albeit normalised from its record-high level in 1QFY2021," write Choong and Lim. Meanwhile, OCBC was the only bank to top up its management overlays in 2QFY2021, say Choong and Lim, given its " more cautious asset quality outlook" , particularly in Malaysia and Indonesia. " Nonetheless, its capital buffer remains stronger than peers at 16.1%." Finally, UOB' s approach to impairments has been more measured compared to its peers over FY2020, say Choong and Lim. " As a result, y-o-y earnings growth in FY2021F will likely be relatively modest, albeit stable, in our view." MAS revamps its data disclosure In addition, the Monetary Authority of Singapore (MAS) has removed from its monthly data the divide between Domestic Banking Unit (DBU) and Asian Currency Unit (ACU) labels, starting from its report for July 2021. First mooted in FY2015, the DBU-ACU divide has been losing its relevance, says Choong and Lim, given changes in developmental incentives and global regulatory standards between the two segments. " We understand from the MAS that previous data points are not directly comparable with Jul 21 figures given adjustments in data remeasurement," they add in an Aug 31 note. Banking system loans, which recorded $1.3 trillion in July 2021, or $1.42 trillion using the previous data measurement method, are now segregated by resident and non-resident data, both segments inclusive of the Singdollar and foreign currency (FCY) loans. Previously, DBU was mainly in Singdollar and ACU only in FCY. " While inconclusive given the remeasurement, July 2021 data suggest some contraction in system loan growth," say Choong and Lim. As at end-July 2021, business loans accounted for some 71% of system loans, with loans for financial and insurance activities (24% of system loans), building and construction &mdash real property and development of land (15%), and general commerce &mdash wholesale trade (8%) forming the bulk of this segment." Consumer loans (29% of system loans) primarily comprised housing and bridging loans (17%). For perspective, system loans expanded 4.6% in 6M2021 (compared to -1.1% in FY2020). Separately, credit card charge-off rates reduced to 4.1% in 2QFY2021 (1QFY2021: 5%, 3QFY2020: peak of 9.1%). " We take this as a signal of improving consumer credit quality on the ground," add Choong and Lim. There is still ample liquidity in the system, say Choong and Lim, with loan-to-deposit ratio (LDR) at 85% in July 2021. " That said, deposit growth was lacklustre at +1.9% in 6M2021 (FY2020: +11.3%). Downside risks to the sector are prolonged lockdowns across the region, affecting business sentiment and credit expansion," they add. As at 1.20pm, shares in DBS are trading 17 cents higher, or 0.57% up, at $30.14 while shares in OCBC are trading 15 cents higher, or 1.31% up, at %11.58 and shares in UOB are trading 1 cent higher, or 0.04% up, at $25.59. |
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Starship
Supreme |
01-Sep-2021 11:27
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Very strange, this earth-shattering good news suddenly disappeared. It was also reported on CNA ' a 11am news just now, but a search on the internet comes up with nothing !!!!! July bank lending shoots up 12% fastest growth on record https://www.businesstimes.com.sg &rsaquo banking-finance &rsaquo j... 23 hours ago &mdash BANK lending in Singapore posted the fastest monthly growth on record in July, lifted by unusually strong demand across several business ... https://www.businesstimes.com.sg/banking-finance/july-bank-lending-shoots-up-12-fastest-growth-on-record-mas-data |
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infoshare
Senior |
31-Aug-2021 23:57
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Seems the market is indicating it does not like these changes United Overseas Bank Ltd
25.58 SGD&minus 0.24 (0.93%)today
31 Aug, 5:07 pm SG
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Joelton
Supreme |
30-Aug-2021 09:25
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UOB announces board changes, appoints Tracey Woon as independent director
UOB on Saturday announced three changes to its board of directors, as part of its ongoing board renewal.
The bank announced the appointment of Tracey Woon as an independent director and member of its audit committee and board risk management committee with effect from Sept 1.
Ms Woon, 65, is currently a director at Singapore Press Holdings, which publishes The Business Times, and is a member of the Securities Industry Council and the Listing Advisory Committee of the Singapore Exchange. She is also director of the National University Health System and holds roles at bodies such as MOH Holdings, the holding company for Singapore' s public healthcare institutions
She was the vice-chairman of Asia-Pacific global wealth management at UBS from 2016 till her retirement in 2020, and was vice-chairman of Citibank' s Asean corporate and investment banking before that. She has more than 40 years of banking experience in total across the region.
Dinh Ba Thanh, who is the founder and chief executive of Vietnam' s integrated media entertainment technology group DatVietVAC Group Holdings, will also be appointed as an independent director of UOB effective Dec 1.
The 64-year-old has more than 20 years of experience in creating and managing businesses in Vietnam, and has grown DatVietVAC to become the largest media entertainment technology group in Vietnam since its establishment in 1993 as Vietnam' s first privately-owned advertising and media corporation.
Mr Thanh currently serves on the board of trustees at the Asia Business Council, and is also a member of the World Economic Forum.
UOB chairman Wong Kan Seng said: " The appointment of the two new directors will further enhance the diversity of the board. In guiding the group in its regional strategy, the board will benefit from Tracey' s extensive background in banking across the region and Thanh' s insights in transforming his business into a successful media entertainment technology company in Vietnam."
James Koh, 75, one of UOB' s independent directors, will step down from the board effective Aug 31 after having served the full tenure of nine years as an independent director. Mr Koh was appointed to the position on Sept 1, 2012.
UOB' s board of directors and management said they are grateful to Mr Koh for his guidance and contributions to the UOB Group over the past nine years, especially on the audit committee, nominating committee and remuneration and human capital committee.
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PhillipTan
Supreme |
30-Aug-2021 02:54
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UOB announces board changes, appoints Tracey Woon as independent directorUOB on Saturday announced three changes to its board of directors, as part of its ongoing board renewal.The bank announced the appointment of Tracey Woon as an independent director and member of its audit committee and board risk management committee with effect from Sept 1. Ms Woon, 65, is currently a director at Singapore Press Holdings, which publishes The Business Times, and is a member of the Securities Industry Council and the Listings Advisory Committee of the Singapore Exchange (SGX). She is also director of the National University Health System and holds roles at bodies such as MOH Holdings, the holding company for Singapore' s public healthcare institutions She was the vice-chairman of Asia-Pacific global wealth management at UBS from 2016 till her retirement in 2020, and was vice-chairman of Citibank' s Asean corporate and investment banking before that. She has more than 40 years of banking experience in total across the region. Dinh Ba Thanh, who is the founder and chief executive of Vietnam' s integrated media entertainment technology group DatVietVAC Group Holdings, will also be appointed as an independent director of UOB effective Dec 1. The 64-year-old has more than 20 years of experience in creating and managing businesses in Vietnam, and has grown DatVietVAC to become the largest media entertainment technology group in Vietnam since its establishment in 1993 as Vietnam' s first privately-owned advertising and media corporation. Mr Thanh currently serves on the board of trustees at the Asia Business Council, and is also a member of the World Economic Forum. UOB chairman Wong Kan Seng said: " The appointment of the two new directors will further enhance the diversity of the board. In guiding the group in its regional strategy, the board will benefit from Tracey' s extensive background in banking across the region and Thanh' s insights in transforming his business into a successful media entertainment technology company in Vietnam." James Koh, 75, one of UOB' s independent directors, will step down from the board effective Aug 31 after having served the full tenure of nine years as an independent director. Mr Koh was appointed to the position on Sept 1, 2012. UOB' s board of directors and management said they are grateful to Mr Koh for his guidance and contributions to the UOB Group over the past nine years, especially on the audit committee, nominating committee and remuneration and human capital committee. |
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